Arthur Blank’s AMBSE Focuses on Continuity in Leadership Reshuffle
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Arthur Blank has reshuffled his top lieutenants in a move that aligns with the future vision of his primary businesses, which include the Atlanta Falcons and Major League Soccer’s Atlanta United, Mercedes-Benz Stadium, PGA Tour Superstore and an investment arm, AMBSE Ventures.
At the parent company, AMB Sports and Entertainment (AMBSE), CEO Steve Cannon has been elevated to vice chairman, where he will oversee the company’s business initiatives and growth strategies.
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Cannon, who is on the MLS Board of Governors, hired United’s new CEO and president Garth Lagerway from the Seattle Sounders in November, and the pair will attempt turn around United, which has missed the playoffs two of the last three seasons after winning the 2018 MLS Cup. AMBSE also remains interested in potentially bringing a National Women’s Soccer League club to Atlanta, which was selected as one of 11 host cities in the U.S. for the 2026 FIFA World Cup.
“Arthur Blank is a long-term thinking guy,” Cannon said in a phone interview. “It’s never short-sighted transactions. We have interesting things coming our way, including a World Cup, that’s going to dramatically impact the face of soccer in America. Atlanta United wants to be a deep participant in that.”
Sliding into Cannon’s former spot as CEO of the AMBSE is Rich McKay, who will also retain the title of CEO of the Falcons. McKay, who serves as chairman of the NFL’s competition committee, increases his overall influence across AMBSE—power that isn’t typical for most NFL team presidents. The former Tampa Bay Buccaneers general manager joined the Falcons in 2003.
The succession of falling—or rising, as the case may be—dominoes includes Greg Beadles’ jump from Falcons chief operating officer to president; AMBSE chief revenue officer Tim Zulawski’s move to president of AMBSE; and Dietmar Exler’s elevation to executive vice president and chief commercial officer for Mercedes-Benz Stadium, which is currently exploring upgrades and renovations.
AMBSE is focusing on continuity by giving more responsibility to five senior executives who’ve combined for 78 years of service within the organization. Cannon said the new wave of empowerment isn’t a sign of Blank stepping back but more about better positioning the company.
NFL owners are required to submit annual succession plans to the league. Blank, 80, has six children, and the co-founder of The Home Depot Inc. (NYSE: HD) hasn’t indicated that he wants to sell his majority stake in the Falcons, which he bought for $545 million in 2002. He sold roughly 10% of his stake in 2019 to Canadian steel magnate Alan Kestenbaum and limited partners Doug Hertz and Ron Canakaris for about $300 million.
The Falcons are worth $3.8 billion, according to Sportico’s latest NFL valuations, while United was tabbed at $855 million, second only behind LAFC ($900 million), in the MLS valuations.
